The Chris Pine-headlined The Contractor will be with us later this year – but for the minute, it sits in bankruptcy protection.
The upcoming movie The Contractor, starring Chris Pine, has found itself in the unusual position of being in Chapter 11 bankruptcy protection in the US. The film, directed by Tarik Saleh, is due for release later this year, but is caught up at the moment in the middle of corporate issues.
The heart of the problem – and this has affected the planned Greenland 2, starring Gerard Butler, as well – is the refinancing of film studio STX. It’s previously been part of an another organisation, Eros, but as Deadline reports, is now working with a new finance partner. That’d be Najafi Companies, and it’s the latter that’s put The Contractor into bankruptcy protection.
Najafi has bought up 85% of STX over the past months, which leaves Eros STX Global Corp with the other 15%. What Najafi is trying to do is to stop its stake in The Contractor being part of the inevitable to and fro of a corporate deal, or in the words of one of its reps, “we determined that it was necessary to seek bankruptcy relief to protect the value of that entity for all of our stakeholders”.
The plan for the movie as it stands, in the US at least, is for Paramount to give it a release in cinemas – although not a huge release by the sounds of it – and then at the same time put it on its Paramount+ streaming platform.
The bankruptcy protection move is unlikely to affect that: but also, it’s all really a bit strange isn’t it?
More on the story here.
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